ASC Biosciences entered into a Letter Of Intent with Stem Cell Development Fund (SCDF) to receive a total of US $1.5MM in staged funding that will support operations, intellectual property development and marketing. ASC, a development stage biotechnology company, owns a proprietary platform of Multipotent Adult Stem Cells (MASCs) that can differentiate into cartilage, bone, tendon, muscle, ligaments, etc.
The first funding tranche will be released in mid-June, and SCDF will receive 800,000 shares of ASC's common stock.
ASC has developed Chondrofelt, a matrix intended for use in microfracture to repair articular cartilage defects, and its MASC-based products include:
- ChondroGen: under development as a total solution to regenerate articular cartilage
- MeniGen: in the pipeline, a universal allogeneic meniscus graft
- OsteoGen: under development, MASCs + polylactic acid polymers or porous bone substitutes to create 3D scaffolds to treat fractures, non-union fractures and craniofacial defects
Sources: ASC Biosciences, Inc., ascbio.com
At OMTEC 2017, Bradley T. Estes, Ph.D. of Cytex Therapeutics will demonstrate that by combining techniques in functional tissue engineering and synthetic biology, researchers have been able to reproduce native cartilage, providing the potential for complete resurfacing of the entire joint surface. Learn more here.